Now that the credit card companies have their debt slavery bill it makes me wonder if they are going to be happy with what they got. This bill might result in people changing their behavior and becoming more responsible. And what do I mean by more responsible? I mean – people spending less money. No more impulse buying. After all – if you are going to protect yourself against bankruptcy, it means that you are going to be a lot more careful in your spending. The bottom line is – it’s going to hit the economy hard. The law goes into effect in October and that’s when people will really stop spending money,. We’ll see if the credit card companies are happy come Christmas. Looks to me like Christmas has been cancelled.

Reader Comments

I think it will be hilarious if the bankruptcy bill backfires on it’s backers, and they can’t “sell money” anymore.